Latest Developments

Europe
BBC Business

Alstom to build new battery-electric train fleet

Work to create the UK's first battery-electric trains for long-distance main line services is set to begin in 2028, the Department for Transport (DfT) has announced. The 29 new Adessia Stream trains are expected to enter service in 2034 and will be built at Alstom's Litchurch Lane factory in Derby. The government said the investment of almost £1bn would help support more than 350 jobs at Alstom and a further 6,000 jobs across the UK supply chain. Prime Minister Andy Burnham said the new trains would deliver "faster, more reliable journeys to the north and thousands of British jobs for the next generation". He added: "I've lost count of the number of times someone has stopped me to tell me about the train that never came. "And when that happens, it means missed shifts, missed appointments, and missed opportunities. Today, that starts to change." The DfT said the trains would help deliver the TransPennine Route Upgrade's aim to boost capacity by 30%, with thousands of additional seats a day across the Pennines by the early to mid-2030s. They will run between key destinations across the north including Liverpool Lime Street and Scarborough, Manchester Airport and Saltburn, and Manchester Piccadilly and Hull. On sections of the railway that are not electrified, where trains currently use diesel engines, the new electric models would be able to run without emissions, the government said. The DfT added journey times would be cut by up to 10 minutes between Manchester and Leeds, and up to 14 minutes between Manchester and York. The trains will be bought by rolling stock company Rock Rail and leased to TransPennine Express, the government added. Alstom, which boasts the largest rolling stock train manufacturing site outside of China, secured a £370m contract in 2024 to produce 10 new London Elizabeth line trains.

Alstom to build new battery-electric train fleet
North America
CNBC Finance

Home sales fall in August despite the highest supply in over a decade

Homebuyers continue to struggle amid higher mortgage rates and lofty home prices. Sales of previously owned homes fell 2% in August from July to 3.98 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. The sales activity marked the slowest pace since June 2025 and was felt hardest in the Northeast and Midwest. This count is based on closings, so contracts likely signed in June and July, when mortgage rates were higher than they were in the spring. Rates moved sharply higher in the middle of July. "Mortgage rates and home sales move in opposite directions, so it's not surprising to see a mild dip in home buying activity due to high mortgage rates," said Lawrence Yun, chief economist for the Realtors. "Still, home prices are rising, and existing home sales are actually up 1.6% year-to-date through the first eight months of the year." Housing supply totaled 1.62 million homes for sale at the end of August, up 3.2% from July and up 5.9% from the year before. At the current sales pace, that represents a 4.9-month supply — the highest level in more than a decade, according to NAR. Despite more supply, prices continue to rise. The median price of a home sold in August was $429,100, up 1.6% from August 2025. That is a new high for the month of August. Price gains were strongest in the Northeast, where inventory is lowest. The West was the only region to see a median price decline year over year. CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. Sales continue to be strongest on the highest end of the market. Compared with August 2025, sales of homes priced between $100,000 and $250,000 were down 10%, while sales of homes priced above $1 million were 3.9% higher. The million-dollar-plus range was the only price range that saw increased sales. Homes are sitting on the market longer, averaging 31 days in August compared with 29 days in July. Buyers paying entirely in cash made up 27% of August sales, slightly higher than July but down slightly from August of last year. First-time buyers made up 30% of sales, up slightly from both July and from August 2025. Investors and second-home buyers, however, fell off compared with 2025 — accounting for just 15% of August sales, down from 21% the year before.

Home sales fall in August despite the highest supply in over a decade
North America
CNBC Finance

NFL Commissioner Roger Goodell says league could rework TV packages in next media deal

MELBOURNE, Australia — NFL Commissioner Roger Goodell said he will consider reworking game packages when the league inks its next media rights deal to adjust for modern TV consumption habits and the shift to streaming. "One of the things we're doing as a league is talking to our partners, talking to future partners, potential partners ... and evaluating, should we repackage our current packages? Should we think differently about where we go with those things?" Goodell said in an exclusive interview with CNBC ahead of the Week 1 game between the San Francisco 49ers and the Los Angeles Rams, the league's first regular-season matchup in Australia. The game will take place Thursday night at 8:35 p.m. ET. The NFL currently sells two Sunday afternoon game packages, a Sunday Night Football slate, a Monday Night Football package, and Thursday Night Football games. Fox and Paramount Skydance-owned CBS have the Sunday afternoon game rights, while NBC has Sunday Night Football, Disney's ESPN and ABC own Monday Night Football and Amazon has Thursday Night Football. The NFL has an opt-out clause that it can trigger at the end of the 2029-30 season to redo and resell its existing packages. Goodell wouldn't say if the league plans to take advantage of that option. "We don't have to make that decision today. That's the reason you have an option," Goodell said. "[What] we said all along is that the option would be incredibly valuable to the NFL — to be able to evaluate what's happening in the media landscape, to be able to look at the things that are happening out there and make the best decision for our fans and for our clubs and how we make sure we present our game in the best possible way and do it with the proper value." Several of the NFL's current media partners are undergoing significant transformations this year. Paramount is attempting to acquire Warner Bros. Discovery for $110 billion in a deal that's been delayed amid an antitrust challenge. Fox has agreed to buy Roku for $22 billion. Comcast said earlier this year it plans to spin off NBCUniversal. The shifting media landscape is likely to factor in when the NFL renegotiates its packages. Goodell also noted that reaching fans globally is a new priority for the league, which will play games in countries including Spain, France and Brazil this season. Netflix owns the global broadcast rights to the 49ers-Rams game. "The world is changing for our partners. It's changing for us. It's changing for fans. Our fans are moving to other platforms," said Goodell. "I think one of the challenges for us is to look at the changes, evaluate what's working, what's not, what we think is going to work beyond those option dates and the partners that can bring the greatest opportunity to reach those fans on a global basis. ... We've never looked at it that way until recently." Goodell said broadcast TV will continue to play a major role in the league's media rights strategy to ensure that local markets have free, over-the-air access to games. Local broadcast stations simulcast games on streaming services such as Netflix and Amazon Prime Video so regional fans can watch. "One hundred percent of our games are available on broadcast television. I see that continuing," said Goodell.

NFL Commissioner Roger Goodell says league could rework TV packages in next media deal
Europe
BBC Business

I asked my husband to pay into my pension when we had a child - here's why

When Molly and Taylor Haylett started their family, they hadn't really planned for what it would mean financially. "Our first child surprised us, so we weren't prepared for it," says Molly, 30, a financial adviser from Essex. Molly and Taylor, who's a train driver, were earning similar amounts, but once Molly spent more time at home with their baby, the balance changed. "Taylor's career propelled and mine took a step back," she says. "There's an unintended impact on the person who spends more time at home with the kids." One of the things the couple decided to do was have Taylor contribute to Molly's pension while she was off work. It is something she thinks far more couples should discuss before having children. She explains that she recently had a conversation about this with a friend as she is going to stop working after having children. "My friend said, 'How would I even ask him to do that?' And I said, 'You've got to just ask him.' "People think only about the present and paying the bills but the person taking time off work could end up with much less in the future." Taylor, 33, admits it was not something he knew about but was on board with Molly's suggestion. "We committed to a life together and if I could help out I would and I was pleased that I did," he says. He adds that Molly is the more organised of the two when it comes to planning and budgeting, but says he still wants to understand where their money is going.

I asked my husband to pay into my pension when we had a child - here's why
Asia
The Economic Times

10 smallcap stocks zoom up to 235% in 1 year; 8 turn multibaggers! Own any?

The stock market’s strongest performers can often reveal where investor interest and momentum have been concentrated. Here are 10 stocks that have delivered notable gains over the past year, with each recording a rise of more than 96%. Do you own any? (This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here

10 smallcap stocks zoom up to 235% in 1 year; 8 turn multibaggers! Own any?
Europe
The Guardian

ECB raises interest rates to 2.5% and warns Iran war is fuelling inflation

Christine Lagarde, president of the European Central Bank, speaks to the press in Berlin after the rate decision. Photograph: John MacDougall/AFP/GettyView image in fullscreenChristine Lagarde, president of the European Central Bank, speaks to the press in Berlin after the rate decision. Photograph: John MacDougall/AFP/GettyEuropean Central BankECB raises interest rates to 2.5% and warns Iran war is fuelling inflation Borrowing costs climb in Europe and oil tops $105 a barrel as bank says growing price pressures in eurozone will be ‘longer lasting than we had anticipated’ The European Central Bank has raised interest rates to 2.5% and warned that the risk of higher inflation over the next year has risen following renewed fighting in the Middle East. It came as government borrowing costs soared on the back of a jump in oil and gas prices after the latest US and Iran attacks on ships in the strait of Hormuz. The interest rate, or yield, on UK government debt rose to a 19-year high on Thursday, while the yield on US and European bonds also climbed in line with oil, which touched $105 (£78) a barrel. Investors had expected the ECB to raise the cost of borrowing across the euro bloc, but were spooked by the hawkish tone of the central bank’s report, which warned of inflationary pressures building in many sectors of the economy. Increasing its main rate from 2.25% to the highest level since March last year, the central bank lifted its forecast for eurozone economic growth in 2026 to 0.9%, up from 0.8% in June. It now expects inflation to average 3% this year. The biggest driving force of rising prices is the cost of energy, which again jumped on Thursday after this week’s increase in US and Iranian attacks on ships transiting the Gulf. Brent crude passed $105 a barrel, before slipping back to about $104.5, a 3.3% rise on the day. British gas prices rose to above 203p per therm, the highest since December 2022. Continental European gas prices also increased. The Dutch wholesale gas price – the EU standard – passed €80 per megawatt hour (MWh) for the first time since January 2023. The front-month contract is trading 3.4% higher at €82.56/MWh. This, in turn, increased government borrowing costs in leading economies. The interest rate on benchmark 10-year UK government bonds, also known as gilts, hit 5.36%, the highest since August 2007. The rate on Germany’s 30-year government bond rose 2.5 basis points to 5.08%, the highest since December 2003. The 10-year yield hit 3.45%, the highest since April 2011. France’s 10-year government bond yield was the highest since October 2008 at 4.344%, up 1 basis point. Central banks are concerned that high fuel and energy prices will feed into higher transport costs and more expensive heating for commercial and residential properties, which will lead to a broad-based rise in inflation.

ECB raises interest rates to 2.5% and warns Iran war is fuelling inflation
North America
Yahoo Finance

Dow, S&P 500 Futures Climb, Nasdaq Futures Slip Ahead Of Key Inflation Data Releases: AAPL, SKHY, PSKY, CHWY Stocks In Focus

U.S. stock futures traded mixed in the overnight session late Wednesday, with the Dow and the S&P 500 climbing higher, and Nasdaq falling as markets await the producer price index (PPI) and consumer price index (CPI) this week. Dow futures climbed 0.24%, and the S&P 500 edged 0.09% higher, while the Nasdaq-100 fell 0.14% at 9:57 PM EDT. On Wednesday, all three benchmark indexes ended the session lower. The Nasdaq Composite led the decline, shedding 168 points to close 0.64% lower. The Dow Jones Industrial Average and S&P 500 ended the session 0.51% and 0.48% lower. While rising oil prices were in focus on Wednesday, markets are now awaiting key August inflation reports from the Bureau of Labor Statistics, with the PPI report expected on Thursday, followed by CPI data on Friday. According to a Morningstar report, economists expect inflation to have moderated in August. The report, which cited FactSet data, expects CPI to rise 0.4% after rising 0.1% in July, with the year-over-year inflation rate likely to slow to 3.3% from 3.4%. Meanwhile, oil prices surged past $101 a barrel on Wednesday. At the time of writing, Brent crude futures expiring in November were up about 0.36% to trade at $101.57 a barrel, while WTI crude futures expiring in October were trading at $96.72 per barrel, up 0.71%. The U.S. Department of the Treasury said on Wednesday that it will triple its upcoming debt buyback plan to $6 billion. Despite the announcement, long-term yields soared, hitting multi-year highs. The U.S. 10-year Treasury yield was trading at 4.847% at the time of writing, the highest since October 2023, while the U.S. 30-year Treasury yield was trading at 5.297%, nearing levels last seen in 2004. “Inflation anxiety is rising with oil prices high and Treasury supply looming. A weak 10-year auction could push yields higher, pressuring stocks. A strong auction, however, signals buyer confidence at current yields,” Kenny Polcari, Chief Market Strategist at Slatestone Wealth, said in a post on X. The inflation readings are key ahead of the Federal Reserve policy move expected next week. Morningstar said in a post on X that if the inflation reading proves to be hotter than expected, “economists say it could trigger the Fed to raise interest rates next week for the first time since 2023.” Traders are pricing in a 60.2% chance of a rate hike by a quarter-percentage point in September, according to data from the CME FedWatch tool. The Federal Open Market Committee (FOMC) meeting is scheduled for Sept. 15–16. Apple Inc. (AAPL): Shares of the iPhone maker edged higher in the overnight session late Wednesday, gaining about 0.52% as analysts looked into whether the $1,999 iPhone Duo could unlock a new revenue stream or pressure margins.

Dow, S&P 500 Futures Climb, Nasdaq Futures Slip Ahead Of Key Inflation Data Releases: AAPL, SKHY, PSKY, CHWY Stocks In Focus
Europe
The Guardian

Bond market rebuffs US treasury’s plan to buy back $6bn in government debt

Even after Scott Bessent announced the operation would target $6bn worth of government bonds, yields on Wednesday continued to rise. Photograph: Chip Somodevilla/Getty ImagesView image in fullscreenEven after Scott Bessent announced the operation would target $6bn worth of government bonds, yields on Wednesday continued to rise. Photograph: Chip Somodevilla/Getty ImagesUS economyBond market rebuffs US treasury’s plan to buy back $6bn in government debtScott Bessent made announcement on Wednesday as bond yields rose to highest point since 2008 financial crisis The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market. Scott Bessent, the treasury secretary, announced the US would buy back $6bn worth of government debt – treasuries – in an effort to alleviate a selloff in the US bond market that has put pressure on interest rates. But the size of the deal failed to appease bond buyers and the yield on 10-year treasuries rose to a three-year high. Rising inflation and uncertainty from the war in Iran have spooked investors from US bonds, what has historically been known to be one of the safest investment vehicles. Treasury yields have been rising, with the yield for the 30-year treasury bond hitting about 5.2% – the highest yield since the 2008 financial crisis. In an attempt to alleviate the bond market, Bessent on 19 August announced the treasury would at least double its typical buyback operation. The move is meant to stabilize the market: fewer bonds on the market should mean that yields go down. But in the weeks since the announcement, treasury yields have continued to rise. Even after Bessent announced the operation would target $6bn worth of government bonds, yields on Wednesday continued to rise. In August, US government debt for the first time in the country’s history reached $40tn – double the amount of debt from just 10 years ago. Higher yields could ultimately mean higher interest rates on loans, including mortgages, student debt and car loans, as these loans are often tied to the bond market. The move puts more pressure on the US Federal Reserve to deal with inflation, which has been pushed up by the war in Iran. The annualized inflation rate hit a three-year high in May before going down to 3.4% in July – 0.7% higher than the same time last year – largely because of higher energy prices. Donald Trump on Wednesday warned that oil prices were unlikely to come down before the midterm. Though Iran “can’t hold out any longer”, its leaders are “desperate to try and affect the election”, he said. “Right after the election, oil prices are going to be tumbling downward,” Trump predicted.

Bond market rebuffs US treasury’s plan to buy back $6bn in government debt
Asia
The Hindu BusinessLine

SBI, MS Strategic, BoB and insurers may cut stake sale in NSE IPO

Several major shareholders of the National Stock Exchange (NSE) have sharply reduced the number of shares they plan to sell in the exchange’s initial public offering (IPO), bringing the offer size down to around 12.4 crore shares from 14.89 crore proposed earlier, according to people aware of the development. The revised offer would represent around 5.1-5.2 per cent of NSE’s equity, compared with 6 per cent earlier. State Bank of India (SBI), the largest selling shareholder, has cut its proposed sale to 1.597 crore shares from 2.475 crore. SBI Capital Markets will sell 87.8 lakh shares, but this represents a transfer of part of the SBI group’s earlier allocation and does not increase the overall offer. MS Strategic (Mauritius) has reduced its offer to 1.10 crore shares from 1.60 crore, while Bank of Baroda will sell 76.9 lakh shares against 1.099 crore earlier. Stock Holding Corporation of India has cut its proposed sale to 61.9 lakh shares from 1.089 crore, while General Insurance Corporation of India will offer 61.9 lakh shares against 1.066 crore earlier. National Insurance Company will sell 40 lakh shares against 60 lakh earlier, Mahag Investments 30 lakh against 50 lakh, and Indian Bank 15 lakh against 24.8 lakh. The reductions come as shareholders reassess the valuation they could receive through the IPO at the lower-than-earlier expected price band. NSE shares have been trading above ₹2,000 in the unlisted market. At the indicative price band of ₹1,700-1,785 a share, the IPO would be worth around ₹21,500-22,600 crore, well below the nearly ₹30,000 crore issue size estimated earlier. The revised red herring prospectus (RHP) is expected to be filed with the Securities and Exchange Board of India (SEBI) by Thursday evening, the people said. The IPO is entirely an offer for sale by existing shareholders, with no fresh shares being issued by NSE. The exchange had originally planned to sell 14.89 crore shares, equivalent to about 6 per cent of its equity. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

SBI, MS Strategic, BoB and insurers may cut stake sale in NSE IPO